Comments on: How to Avoid the Foreclosure “Spin” and Make a Bundle in This Crazy Market http://www.earlytorise.com/2008/07/19/how-to-avoid-the-foreclosure-spin-and-make-a-bundle-in-this-crazy-market.html The Web's Most Popular Newsletter Thu, 19 Nov 2009 09:45:21 -0400 http://wordpress.org/?v=2.8.3 hourly 1 By: Valances http://www.earlytorise.com/2008/07/19/how-to-avoid-the-foreclosure-spin-and-make-a-bundle-in-this-crazy-market.html/comment-page-1#comment-940 Valances Sat, 02 Aug 2008 05:03:42 +0000 http://www.earlytorise.com/2008/07/19/how-to-avoid-the-foreclosure-spin-and-make-a-bundle-in-this-crazy-market.html#comment-940 The last thing that banks want to do is foreclose on a home. They benefit from long-term loans as that allows them to rake in interest on top of interest. All you have to do is compare a 15-year loan amortization schedule to a 30-year one. It's a service and every business wants to continue to provide their services to gain a profit. Banks move to places where currencies are strong and where they can sell their services for a profit. That place has always been America and now it just isn't anymore. Let's face it, the world has become a bigger playing field. Banks are investing elsewhere and using the American consumer as a bridge to walk over. True, many consumers got bigger loans than they could afford and many still refuse to get help out of fear and pride, but the issue is bigger. One may not care for government intervention on an individual basis when it comes to American families going through foreclosure, but we have to understand that as long as America keeps showing this housing crisis to the world, we will not attract foreign investment, we will not attract jobs and we will not have a healthy, free market. Our problem is that we look at the problem as temporary and local. It's a big problem that affects us collectively and spreads to other aspects of this country's culture. We have to take care of the picture that we are portraying to the world because the world community can help us more than we realize. The last thing that banks want to do is foreclose on a home. They benefit from long-term loans as that allows them to rake in interest on top of interest. All you have to do is compare a 15-year loan amortization schedule to a 30-year one. It’s a service and every business wants to continue to provide their services to gain a profit.

Banks move to places where currencies are strong and where they can sell their services for a profit. That place has always been America and now it just isn’t anymore. Let’s face it, the world has become a bigger playing field. Banks are investing elsewhere and using the American consumer as a bridge to walk over.

True, many consumers got bigger loans than they could afford and many still refuse to get help out of fear and pride, but the issue is bigger. One may not care for government intervention on an individual basis when it comes to American families going through foreclosure, but we have to understand that as long as America keeps showing this housing crisis to the world, we will not attract foreign investment, we will not attract jobs and we will not have a healthy, free market. Our problem is that we look at the problem as temporary and local. It’s a big problem that affects us collectively and spreads to other aspects of this country’s culture.

We have to take care of the picture that we are portraying to the world because the world community can help us more than we realize.

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